Top Bull Pitch

Submitted May 05, 2015

Greatest hits from the December 2014 prospectus .... "Our net tangible book value as of September 30, 2014 was $2,982,000, or $0.34 per ADS. After giving effect to the sale of the ADSs in the aggregate amount of approximately $8,000,000 at an… More

Five institutions have taken new positions recently, I thinks shorts have over stayed and will get burned, I think they may have something here now with the cancer and NASH applications. Fast track in the US, orphan drug in Europe, already approved for compassionate use.

"Our net tangible book value as of September 30, 2014 was $2,982,000, or $0.34 per ADS. After giving effect to the sale of the ADSs in the aggregate amount of approximately $8,000,000 at an offering price of $4.45 per ADS, and after deducting estimated offering commissions and expenses payable by us, our net tangible book value as of September 30, 2014 would have been $8,165,000, or $0.77 per ordinary share. This represents an immediate increase in the net tangible book value of $0.43 per ADS to our existing shareholders and an immediate and substantial dilution in net tangible book value of $3.68 per ADS to new investors."

"We effected a 1-for-25 reverse share split with respect to our ordinary shares, options and warrants on May 12, 2013. Reported prices in the table below have been adjusted to give retroactive effect to the share split."

My favorite....

"Since we have broad discretion in how we use the proceeds from this offering, we may use the proceeds in ways with which you disagree. We have not allocated specific amounts of the net proceeds from this offering for any specific purpose. Accordingly, our management will have significant flexibility in applying the net proceeds of this offering. You will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment decision, to assess whether the proceeds are being used in ways with which you would agree. It is possible that the net proceeds will be invested in a way that does not yield a favorable, or any, return for us. The failure of our management to use such funds effectively could have a material adverse effect on our business, financial condition, operating results and cash flow."